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HRM is an integral part of management sciences. In these Lecture Slides following aspects of HRM has been discussed : Paradox, Formal Employment, Informal Employment, Equilibrium Conditions:, Workers, Agricultural Employment, Labour Force, Harris?Todaro Equilibrium, Informal Sectors, Formal Employment
Typology: Slides
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If all workers are identical, then
p =
LF (w ) LI + LF (w )
where
LF = ìinstitutionallyñdeterminedî formal employment LI = informal employment
Equilibrium conditions:
wA =
w +
wI
L = LF + LI + LA (wA )
where
LA = agricultural employment L = total labour force
Formal Wage, wF
Agricultural Wage, wA
DF(w)
DA(w)
LF (^) LA
w wA
LI
wI
Figure: HarrisñTodaro Equilibrium
Formal Wage, wF
Agricultural Wage, wA
DF(w)
DA(w)
LF (^) LA
w wA
LI
wI
Figure: Impact E§ect of Job Creation Policy
Formal Wage, wF
Agricultural Wage, wA
DF(w)
DA(w)
LF LA
w wA
LI
wI
Figure: Long Run Migration Equilibrium
Restrict individuals without formal jobs from entering city?
Need balanced policies to stimulate demand in both sectors ,! remove urban bias ,! rural development policies
Formal Wage, wF
Agricultural Wage, wA
DF(w)
DA(w)
LF LAM
w
wA
Figure: Migration Restrictions
